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BUDGET 2009 NEWS: Darling to close tax loopholes

Chancellor Alistair Darling has claimed new measures to stop tax avoidance and evasion will bank the Treasury an extra £1bn over the next three years.

Speaking to MPs in Parliament today, Darling says: “It cannot be fair that those who should pay tax are allowed to avoid it. Over the last decade we have taken a number of measures which have reduced tax evasion and avoidance by on average over £1bn a year. I intend to build on this today. We have identified loopholes which when closed will result in £1bn of extra revenue over the next three years.”

The Budget, Darling’s second, includes measures to tackle evasion, including the publication of the names of deliberate tax defaulters and an offshore disclosure opportunity, and targeted anti-avoidance measures as a proportionate response to those who seek to avoid paying their fair share.

The package of measures raises over £1bn during the period 2009/2010 to 2011/2012 and protects a further £3bn per year of tax receipts by 2010/2011 from erosion by tax evasion and avoidance.


cru fears FSA action

cru Asset Management is concerned that the Financial Services Authority (FSA) may want the Arch cru fund range, which was suspended on March 13, to be liquidated at the earliest possible opportunity. A statement published on cru’s website says this decision may be made “on the grounds that although the structure of the funds is […]

Adviser Fund Index: Holding pattern

The most recent rebalancing of the Adviser Fund Index was in November 2008 in the wake of market collapse following the Lehman Brothers’ bankruptcy. Six months on, the AFI is due to be rebalanced again in May as markets tentatively start to rise.


Neptune video: UK economy: a sustainable recovery?

After years of a slowly brewing economic recovery, the UK has seen a strong rise in growth in recent months. Mark Martin, manager of the Neptune UK Mid Cap Fund, discusses the strength of this recovery and whether it is sustainable.

In the video, Martin addresses the following:

• Structural features supporting the UK economy
• UK mid-caps and the potential for M&A activity
• Valuations and opportunities in house builders


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